Notable activity in the Shiba Inu (SHIB) cryptocurrency space was observed as an anonymous entity shifted an impressive 4.55 trillion SHIB, an equivalent of $31.5 million, according to data provided by Whale Alert.
This monumental transaction aligns with a prevailing trend of significant SHIB transfers that have occurred over the past month.
The recent flurry of SHIB transfers
The past month has seen a surge in large SHIB transfers. Just hours ago, a sum of 4.56 trillion SHIB, amounting to $31.76 million, moved between unidentified wallets.
This adds to a series of notable transfers throughout October: on Oct. 17, 4.58 trillion SHIB ($31.63 million) was transferred; on Oct. 16, a transaction involving 4.59 trillion SHIB ($32.41 million) was executed; and on Oct. 11, 4.61 trillion SHIB changed hands at a value of $31.39 million.
Additionally, two conspicuous transfers emanated from the Bitvavo exchange to undisclosed wallets, with 4.58 trillion SHIB ($33.13 million) on Oct. 5 and 4.60 trillion SHIB ($33.38 million) on Sept. 22.
SHIB price performance
Currently, Shiba Inu (SHIB) is trading at $0.00000690, marking a 2.2% ascent. However, in comparison to major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), it has slid by 1.1% and 0.9%, respectively.
The second most popular meme coin has underperformed the majority of major cryptocurrencies within the top 20 on CoinMarketCap. It remains in the 19th at press time.
SHIB's market capitalization is pegged at around $4.07 billion, and its 24-hour trading volume stands close to $112.42 million.
Arman Shirinyan
